Markets doing little ahead of Federal Reserve meeting

Dow is down 6, decliners ahead of advancers 3-2 & NAZ is even ahead of the Federal Reserve meeting & its announcement this PM. Banks sold off.

S&P 500 FINANCIALS INDEX

Value 205.74

Change -0.88

% Change -0.4%

250 is becoming an important overhead barrier for the Alerian MLP Index. The index is down 1+ to the 249s, but considering the run in just this qtr it's more than entitled. The Dow Jones REIT Index is off 3+, but again it's had one of its best quarters in history. Junk bond funds are a little higher. The yield on the 10-year Treasury bond is down 2 basis points to 3.44%.


Alerian MLP Index --- 3 months




Dow Jones REIT Index --- 3 months





Oil is down to the low end of its trading range over the last 4 months. Gold is hanging in just above 1K.

CLX09.NYM

...Crude Oil Nov 09

...68.99

... 2.77 .......(3.9%)

GCU09.CMX

...Gold Sep 09

...1,011.50

... 2.70 .......(0.3%)

Below are 3 S&P 500 Dividend Aristocrats, Exxon Mobil (XOM), McDonald's (MCD & Ely Lilly (LLY), which have been left behind in this year's willingness to welcome risk. They, along with other remaining in the group, might be considered of interest for those seeking good values.

Exxon Mobil --- 1 year




McDonald's --- 1 year




Eli Lilly --- 1 year




Not much to do but wait for the announcement the FED this PM. It is widely assumed they are not going to make any unusual announcements. The chart below illustrates how well the Dow has performed (after starting from an overbought position at the start of the qtr).

Dow Jones Industrials --- 3 months